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Quote from: sotelorene on September 16, 2024, 02:22:03 PM

prefer trading they should note the following;

1. Trade with what you can afford to lose
2. The market is not a respecter of person ( it doesn't look if you really need money or not)
3. The risk is 50/50, if not more than the chance of making profit
4. Don't be carried away by the market movement whether down or uptrend etc.

The best part that you forget to add up is to go and engage in trading classes in order for them to learn for a long period of time so that they can have knowledge about what they are trying to enter because both trading and investment need patience, but trading is the most dangerous among

So that is why it is mostly advisable for the beginners to always focus on long-term bitcoin investments because it is less stressful, it requires less knowledge, it has a lower risk than bitcoin trading, and at the same time it is very easy, so even if you have the wish to trade, I think the best thing to do should be a long-term investment rather than involving yourself in something you are not fully sure you will have a good profit.

That's right. Learning to trade is the most important thing, it doesn't have to be in class or have a mentor but just learn independently, especially now there is so much information that we can learn, the point is to learn. Because trading is not only difficult, but very very difficult. it takes years to learn technical analysis, risk and reward ratio, good money management, controlling emotions and greed. So practicing patience is also an important factor in trading and investing. A strategy that suits us, don't follow others, those are the things needed to be able to make a profit. without years of dedication like that, it is very difficult to get consistent profits.

I also agree with you. To be safer in investing, you should make bitcoin your main goal, because the risk we have in bitcoin is smaller than altcoin and bitcoin is also an asset that has good prospects for the long term.

Trading is very complex and a new investor should avoid trading at all cost because it will make you run at loss and lose the little bitcoin that you bought. It is good for new investors to get started immediately and buy bitcoin with DCA method frequently weekly or monthly so that you can build and grow your bitcoin investment for the future in order for you to become financially buoyant.

I don't see how learning trading is important for an investor who plans to buy bitcoin and hodli for long term because it will be a waste of time and not a priority since he is only buying continuously ovetime. Trading to me is a no go area because it is similar to gambling and bitcoin is worth more than using it for gambling.

Like the saying goes, time waits for no man and opportunities comes not always. As a new Bitcoin investor with some spare cash, the most important thing for you to do is to secure your future first.

Trading isn't bad at all because it's an undeniable integral part of the crypto space, we all know that before you get really good in trading to make money, you must have lost a fortune and it really takes time.

Now since you've these spare cash with you to throw around, you're supposed to start accumulating Bitcoin with it so your future is secured first with your investment and when your accumulation target is reached, you can then choose to continue accumulating, or entertain trading career side by side with your continued accumulation journey.

Time is precious and the good Bitcoin prices we see today may be our dream dip tomorrow, so instead of jumping straight into trading, focus on accumulating first to take advantage of the today's good prices and accumulate good stashes of Bitcoin for yourself before the prices skyrocket to unimaginable heights and you'll be filled with regrets that you missed out on a good investment opportunity while busy chasing shadows.

Everything you said I agree but the bolded text is what I don't see needful.

One thing that I will not advise anyone to do is to be accumulating bitcoin and thinking that you can also be trading at the same time. Because you will distract yourself and you will be distracted with trading since it takes more time to learn and affect emotions whenever there is a loss. As a matter of fact, you can even jeopardize with your bitcoin investment by using part of it when you are running at loss in trading and before you know it gradually, you are giving up your investment to trading and losing it gradually.

Why would one choose to destroy what he took his time to build because he feels that he needs trading to make more money. Traders hardly hodli their bitcoin for long and before you know it, you as an investor will become a trader and a little mistake you will make if the market goes against you, you will lose it up. A new investor should only think on investing and concentrate only on investing and hodli for a long period of time because that's where the profits lies.

Well, I really think you missed my point mate, was pointing at a beginner who's mind is made up on trading, so to make sure he does the right thing first by accumulating Bitcoin first until his target is met before thinking of trading, I would introduce a mindset of accumulation as primary and trading as secondary. Just a calculated plan to get such a person to have his investment in Bitcoin first in order to secure his future. Most times while investing in Bitcoin consistently such person loses interest in trading and remain focused on his investment. This is just a mental hack to direct a new investor who previously had intention of trading that there's a better future in investment and it should be considered a priority.

If you deal with people so much, you'll know that a direct refusal sometimes triggers resistance in them, so identifying with their intentions to a limited extent makes them more comfortable and most times at the long run, they get comfortable with your Idea and forgo the wrong motive they had earlier.